Dogecoin ETF Launches with 21Shares and Dogecoin Foundation Backing - Meme Coin Goes Mainstream

The meme coin that started as a joke just got the ultimate Wall Street nod.

21Shares has officially launched a Dogecoin ETF, with the Dogecoin Foundation itself providing backing. This isn't just another crypto fund—it's a legitimization play for an asset class once dismissed by traditional finance. The move signals a seismic shift in how institutions view the utility and longevity of community-driven digital assets.

From Internet Meme to Investment Theme

Forget the shiba inu jokes. This ETF structures Dogecoin's famously volatile price action into a regulated, exchange-traded wrapper. It gives accredited investors and funds a clean, familiar vehicle to gain exposure without touching a crypto wallet. The Dogecoin Foundation's involvement is key—it provides a veneer of governance and long-term project support that ETF issuers crave.

The Cynical Take

Let's be real: the finance world loves packaging anything with a narrative into a fee-generating product. Whether it's 'the people's crypto' or pet rocks, if it trades, it can be securitized. This launch proves that Wall Street's innovation department is really just the repackaging department.

What's the real play here? It's a gateway. Success for a Dogecoin ETF paves the way for other altcoin funds, further blurring the line between crypto-native assets and traditional securities. The floodgates aren't just open—they've been replaced with a sleek, institutional-grade turnstile.

Dogecoin ETF fails to revive DOGE price

DOGE has traded in a tight range, with no renewed hype. Despite the process of launching and listing an ETF, Doge has rarely responded. As Cryptopolitan reported, DOGE remained subdued even as large-scale funds started the ETF process. 

Following the news of the ETF launch, DOGE still traded at around $0.12, as ETF inflows are still unknown. Even the official endorsement of the Dogecoin Foundation failed to boost the meme coin. 

DOGE remains far from its all-time highs, but is still well-represented on exchanges, including Binance and Bybit. The coin has fewer use cases in the DeFi space, where new memes are more active. 

Can DOGE make a comeback? 

DOGE has mostly absorbed the ETF narrative after a few products launched at the end of 2025. DOGE already traded in products by Rex-Osprey, Grayscale, and Bitwise. Currently, Rex-Osprey has the biggest ETF, with $18.5M in value under management. The DOGE ETF is run with relatively high fees of $1.5% to 1.8%.

DOGE open interest is also near its lows at $533M, showing no signs of momentum. DOGE mining also moved down from its highs, as it is linked to Litecoin mining. The slower LTC price action also meant a lower hashrate for Dogecoin. 

DOGE is still closely watched for a sudden breakout, as it has previously risen from months of flat trading. The meme coin lost some of its appeal due to the lack of an altcoin market and the growing influence of short-term memes. 

The slide of DOGE is seen as an ongoing liquidation of long positions. DOGE is still stuck between $0.12 and $0.13 based on Leveraged positions, with no potential for a short squeeze. Despite this, the coin is in oversold territory, suggesting the potential for a relief rally.

Sharpen your strategy with mentorship + daily ideas - 30 days free access to our trading program